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741 Hibiscus Ave 17 Unit Apartment Building $4,400,000 ($258,824/Unit) 6.33% Cap Rate Pompano Beach, FL 33062
INVESTMENT HIGHLIGHTS
- Hotel License on it
- Across street from beach.
EXECUTIVE SUMMARY
17-Unit Income Property – Steps from the Sand
This rare 17-unit multifamily opportunity (16 legal units) is just a short walk from the beach and the
vibrant Atlantic Blvd/A1A corridor. Spread across three gated buildings on over 25,000 sq ft of land, this
turnkey asset is perfectly positioned for strong cash flow and long-term value.
Key Highlights:
- Renovated Interiors with major upgrades to plumbing and electrical
- New Roofs, Impact Windows, and Hurricane-Rated Doors
- Transient Rental License in place + Hotel License Approved (pending driveway paving – in permitting)
- High Demand for both short- and long-term rentals in this vacation corridor
- Flexible leasing: month-to-month tenants, STR-ready, or convert to annual leases
- Amenities include a pool, gated access, and ample parking
- Value-add opportunity via expense optimization (utilities & insurance)
- Ideal for: investors, 1031 exchanges, or operators seeking coastal STR potential
This is a flexible, cash-flowing asset in a rapidly appreciating neighborhood with multiple exit
strategies—short-term rental, boutique hotel, or traditional multifamily.
This rare 17-unit multifamily opportunity (16 legal units) is just a short walk from the beach and the
vibrant Atlantic Blvd/A1A corridor. Spread across three gated buildings on over 25,000 sq ft of land, this
turnkey asset is perfectly positioned for strong cash flow and long-term value.
Key Highlights:
- Renovated Interiors with major upgrades to plumbing and electrical
- New Roofs, Impact Windows, and Hurricane-Rated Doors
- Transient Rental License in place + Hotel License Approved (pending driveway paving – in permitting)
- High Demand for both short- and long-term rentals in this vacation corridor
- Flexible leasing: month-to-month tenants, STR-ready, or convert to annual leases
- Amenities include a pool, gated access, and ample parking
- Value-add opportunity via expense optimization (utilities & insurance)
- Ideal for: investors, 1031 exchanges, or operators seeking coastal STR potential
This is a flexible, cash-flowing asset in a rapidly appreciating neighborhood with multiple exit
strategies—short-term rental, boutique hotel, or traditional multifamily.
FINANCIAL SUMMARY (PRO FORMA - 2025) |
ANNUAL | ANNUAL PER SF |
|---|---|---|
| Gross Rental Income |
$510,876
|
$63.95
|
| Other Income |
$1,000
|
$0.13
|
| Vacancy Loss |
-
|
-
|
| Effective Gross Income |
$511,876
|
$64.07
|
| Taxes |
$55,928
|
$7.00
|
| Operating Expenses |
$177,369
|
$22.20
|
| Total Expenses |
$233,297
|
$29.20
|
| Net Operating Income |
$278,579
|
$34.87
|
FINANCIAL SUMMARY (PRO FORMA - 2025)
| Gross Rental Income | |
|---|---|
| Annual | $510,876 |
| Annual Per SF | $63.95 |
| Other Income | |
|---|---|
| Annual | $1,000 |
| Annual Per SF | $0.13 |
| Vacancy Loss | |
|---|---|
| Annual | - |
| Annual Per SF | - |
| Effective Gross Income | |
|---|---|
| Annual | $511,876 |
| Annual Per SF | $64.07 |
| Taxes | |
|---|---|
| Annual | $55,928 |
| Annual Per SF | $7.00 |
| Operating Expenses | |
|---|---|
| Annual | $177,369 |
| Annual Per SF | $22.20 |
| Total Expenses | |
|---|---|
| Annual | $233,297 |
| Annual Per SF | $29.20 |
| Net Operating Income | |
|---|---|
| Annual | $278,579 |
| Annual Per SF | $34.87 |
PROPERTY FACTS
AMENITIES
UNIT AMENITIES
- Air Conditioning
- Ceiling Fans
- Kitchen
- Refrigerator
- Tub/Shower
- Deck
SITE AMENITIES
- 24 Hour Access
- Fenced Lot
- Laundry Facilities
- Pool
- Furnished Units Available
- Grill
UNIT MIX INFORMATION
| DESCRIPTION | NO. UNITS | AVG. RENT/MO | SF |
|---|---|---|---|
| Studios | 9 | - | - |
| 1+1 | 6 | - | - |
| 2+1 | 2 | - | - |
PROPERTY TAXES
| Parcel Number | 49-43-06-12-0060 | Total Assessment | $2,578,290 |
| Land Assessment | $504,820 | Annual Taxes | $55,928 ($7.00/SF) |
| Improvements Assessment | $2,073,470 | Tax Year | 2025 |
PROPERTY TAXES
Parcel Number
49-43-06-12-0060
Land Assessment
$504,820
Improvements Assessment
$2,073,470
Total Assessment
$2,578,290
Annual Taxes
$55,928 ($7.00/SF)
Tax Year
2025
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741 Hibiscus Ave
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